Job Description:

Job Summary

Provide analytical support in executing internal control discipline and operational excellence across various LOB/ECF. Gather and organize data in order to monitor and test the effectiveness of key controls and status of mitigation and action plans. Prepare documentation for the tracking, monitoring, and escalation of risk related issues to management. Acts as an ambassador of the risk culture. Incumbents typically have over 5+ years of risk management and/or Global Market Operations Line of Business experience.

The Operational Risk & Control (OR&C) team is seeking a candidate to support its Asset Servicing Lines of Business. The OR&C team is responsible for the implementation of operational risk management policies, procedures, and standards for Global Markets Operations Globally. The team is directly accountable for Risk and Control issues of the Lines of Business it supports and also works with Corporate Operational Risk to implement GT&O Enterprise Risk standards. Key goals of the team are 1) promote a strong Risk Culture, 2) understand our Risk Profile and Risk Appetite, 3) establish sound risk management processes to effectively identify, measure, monitor, and control risk, and 4) ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.

Responsibilities:

As a member of the Global Market Operations Risk & Control team, the position will be responsible for functions supporting the Shared Operations Line of Business.Responsibilities include:
• Perform root cause analysis of operational events and challenge control weaknesses and breakdowns to properly assess risk disposition
• Understanding of operational processes: risks, controls and control metrics
• Institute routines to oversee progress of risk mitigation efforts and mange timelines for issue closure
• Score risk issues in accordance with Bank of America Risk Framework and guidelines
• Draft issue summaries and detailed action plans to document remediation approach
o Enter issues formally into the Issue Management System of Record
o Collect and perform independent QA of evidence submitted for issue closure
o Perform issue status reporting for various audiences
o Perform trend analysis and horizontal impact assessments to determine themes and identify emerging risks
o Support lines of business through routine exams with regulators and internal audit

Required Skills
• 5+ Years of risk management and/or Global Market Operations Experience
• Excellent written and verbal communication skills – ability to tailor messaging to senior management
• Able to understand, analyze, and explain complex workflows
• Self-Starter who can work independently with little guidance or direction
• Ability to meet tight deadlines while working in a flexible environment
• Attention to laws, rules & regulations
• High technical expertise in MS Office platforms

Desired Skills
• Audit, Global Markets, and/or Finance/Accounting experience
• Project management experience
• Ability to analyze, comprehend, and document complex processes
• Highly analytical – Able to work with large data sets and workflows

Skills:

• Controls Management
• Issue Management
• Monitoring, Surveillance, and Testing
• Quality Assurance
• Risk Management
• Analytical Thinking
• Attention to Detail
• Critical Thinking
• Problem Solving
• Written Communications
• Decision Making
• Innovative Thinking
• Prioritization
• Recording/Organizing Information
• Research

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)Pay and benefits informationPay range$62,100.00 - $103,900.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.